4-1a4b2d 'Tendency to want to do something' - Don't get paid for work, but for being right.

“All of man’s trouble arise because he cannot sit in a room quietly by himself.” – Blaise Pascal

“Most people are too fretful, they worry too much. Success means being very patient, but aggressive when it’s time.” – Charlie Munger

“The big money is not in the buying and selling… but in the waiting.” – Charlie Munger

“We don’t get paid for activity, just for being right. As to how long we’ll wait, we’ll wait indefinitely.” – Warren Buffett

E.g., fight, flight, intervention, demonstration of value

Next:

• 4-1a4b2e Don’t get started because the big money is in the waiting—look for a fat pitch.

Related:

• For Munger’s first quote
  • 5-2c Be impatient about the things you most want to do
  • 2-1b3a ‘Circle of competence’ & ‘Niches’ - Build a moat. Thrive in where you can.
• For Munger’s second quote
  • 5-1b4b3 Time beats timing
• For Buffett’s quote
  • 2-3b ‘Leverage’ - The effort put in and its utility-results doesn’t have to correlate at all. Use this to your advantage.
    • 7-1b3c Some technologies will be structurally overlooked by corporate networks. Barriers to entry doesn’t necessarily correlate to its importance.
• 2-6 You get what you pay for
  • 5-2a1 You get what you measure
• 4-1a4b2b Being reactive is like being analog in the heat of the moment
  • 4-1a4b2b1 ‘One-of-those’ over one-off - Learn from history (not just from your ‘own’ experience)
  • 5-2b2a Use LATER folder, instead of reactively watching-reading-listening, and give them time
    • 2-1c1 ‘Comparative advantage’ - If others can do it, let them
      • 5-1b1a8 ‘Opportunity cost’ and ‘comparative advantage’ must be rooted in explanations. Never use them as ad hoc criteria.
        • 2-1c2 ‘Specialization’ - Minimizing opportunity costs maximize comparative advantages and leads to prosperity
• Adopt Kissinger’s approach—simply ask: Is this your best work?
  • QUE5 - What’s the best thing you could be working on, and why aren’t you
    • 11-1c When investing, you have to address your problem. You have to hedge your risk.
      • 9-4b3e3e ‘Friction and viscosity’ - Give THE problem as much attention as possible. Better UI-UX often can make innovation possible because users benefit from cognitive offload.